The Asian Development Bank (ADB) on Friday approved $1.3 billion in loans for Pakistan for emergency budgetary support, chiefly through a relatively expensive crisis response facility.

The United States has credited Pakistan’s reform efforts and the programme it has signed with the International Monetary Fund (IMF) for Moody’s recognition of the country’s economic stability.

Crediting the finance ministry’s reform efforts and the International Monetary Fund (IMF) programme, the in-charge of South Asia affairs at the US State Department, Alice Wells, on Wednesday welcomed Moody’s revision in Pakistan’s credit outlook.

Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh on Tuesday said that the world’s leading financial institutions had given Pakistan their vote of confidence and acknowledged the improvement over the past five months in its economic indicators.

…£50m as well as £140m in nine frozen UK bank accounts. Mr Hussain could not be reached for comment. But on Twitter he indicated the funds would be used in settlement of a case in front of Pakistan…

At least two people were killed and seven others wounded Tuesday after troops of India and Pakistan exchanged heavy fire and mortar shelling on the Line of Control (LoC) dividing Kashmir.

The Pakistani real estate tycoon Malik Riaz Hussain has agreed to hand over 190 million pounds ($244 million) held in Britain to settle a British investigation into whether the money was from the proceeds of crime.

On the part of Russia, the agreement was signed by Deputy Finance Minister Sergey Storchak, on the part of Pakistan, Ambassador Qazi Khalilullah.

Since the inception of the China-Pakistan Economic Corridor (CPEC), Pakistan has been witnessing an unprecedented upward trajectory in the socio-economic domain.